CVS Health is adapting its supply chain for a changing, increasingly competitive consumer and pharmaceutical business. The pharmacy chain is shuttering a handful of distribution centers, automating one of its biggest facilities and taking other steps aimed at changing how it ships goods to stores and to its customers. The WSJ Logistics Report’s Liz Young writes the effort is meant to speed the flow of merchandise across its network, and to shave costs and improve margins along the way. CVS is following other big retailers in looking to have its stores fill more online orders. That’s a complicated undertaking because CVS stores are far smaller than typical, sprawling Walmart and Target outlets. CVS considers its retail network a competitive advantage since 85% of the U.S. lives within 10 miles of one of its stores. For CVS, the strategy suggests more frequent deliveries of smaller scale to stores.

• Pharmacy chain Walgreen’s is considering closing about a quarter of its 8.600 U.S. stores. (CNBC)

Shipping magnates are ploughing their big profits in recent years into new investments, but not necessarily on the water. Many are buying up news outlets, real estate and even soccer clubs, the WSJ’s Costas Paris reports, in a sign of the flood of cash that has poured into the sector since the global Covid pandemic and recent disruptions at the Suez Canal. The earnings of the world’s top 10 container lines more than quadrupled in 2021 and 2022 to an average of $158 billion a year. Shipping owners often go on buying sprees when they are flush with cash, typically investing in modernizing their fleets. But a rush of orders raises the specter of a surplus of oceangoing capacity, prompting some shipowners to diversify their holdings. CMA CGM owner Rodolphe Saadé has become something of a media baron, buying several newspapers, a TV station and a radio outlet.

Contract talks between Canada's two big railroads and the Teamsters union are scheduled to resume today under the looming threat of a strike. (Dow Jones Newswires)

U.S. imports by value edged up 0.6% in June while exports rose 1.5%. (MarketWatch)

German manufacturing orders climbed in June for the first time in six months, driven by resurgent automotive demand. (WSJ)

Caterpillar lowered its full-year sales outlook after sales volumes and revenue fell in the second quarter. (WSJ)

Bayer fell to a loss in the second-quarter on growing challenges in the agriculture commodities sector. (WSJ)

Most of Bangladesh’s garment factories remained closed as rioting and political upheaval gripped the nation. (The Loadstar)

A lengthy vessel backup is growing off Bangladesh’s main Chattogram port amid political turmoil in the country. (Splash 247)

The International Longshoremen’s Association is seeking an almost 80% increase in wages over six years in the next contract with employers at East Coast and Gulf Coast ports. (Journal of Commerce)

QatarEnergy is considering adding 20 liquefied natural gas carriers to its massive fleet buildup at a cost of $5 billion. (TradeWinds)

Truckload carrier Covenant Logistics is looking at more price increases after raising rates three times last quarter. (Trucking Dive)

Self-driving truck technology startup Aurora Innovation raised $483 million in new backing. (DC Velocity)

Expeditors International’s second-quarter profit fell 11.1% despite a 9% gain in revenue. (Reuters)

GXO’s second-quarter net profit fell 40.9% to $39 million while revenue increased 19% to $2.8 billion. (Logistics Management)

Körber Supply Chain Software is acquiring transportation management system provider MercuryGate International. (Supply Chain Management Review)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on X at @WSJLogistics.